Three new investment projects, with a total budget of 15 million euros, are in the works in Rhodes, Kefalonia, and Skydra.
The first investment, worth €10 million, involves the development of a new 5-star hotel in Afandou, Rhodes, by “Arpa Maxion Hellas.”
The company’s plan calls for the construction of a 134-room hotel, with the amendment of the EIA (Environmental Terms Approval Decision) to change the facility’s classification and the developer’s name, as well as the project’s technical description.
Essentially, the project involves upgrading the already licensed facility from a 4-star to a 5-star rating. The investment is located on a site with a total area of 13,320 square meters, approximately 147 meters from the designated shoreline and near the Afantou-Kolymbia coastal zone.
According to the environmental amendment study, the project retains a capacity of 134 beds, while the technical description and accommodation category are being changed. The new unit will include a total of 74 rooms, comprising a mix of double rooms, rooms with private pools, and suites.
The complex will be built around a central building and four guest wings. The facilities will include a reception area, restaurant, bar, kitchens, a gym, support areas, as well as outdoor recreational facilities. The surrounding area will feature swimming pools with a total surface area of approximately 535 sq. m., a snack bar, outdoor dining areas, and landscaped green spaces.
The main changes from the original permit include, among other things, the addition of rooms to the main building, new underground spaces, and modifications to the swimming pools.
The estimated construction cost amounts to approximately €10 million. The financing plan calls for approximately 40% equity, 30% bank financing, and the use of development incentives, if approved.
The facility is expected to operate seasonally, with the investment forming part of the ongoing development of Rhodes’ tourism product, aiming to attract higher-end visitors and strengthen the island’s hotel capacity.
The Kefalonia Project
In Kefalonia, specifically in the Zola area, another tourism investment project with a budget of 4 million euros is underway.
This project involves the development of a five-star hotel with a capacity of 127 rooms and 288 beds. The project is located on a coastal plot, approximately 70 meters from the sea, outside the boundaries of the village of Zolon in the municipality of Argostoli.
The entity responsible for implementation and operation is the company “Asterias Hotel and Tourism S.A.,” represented by Gerasimos Strintzis, and the project owner is “Eco Ionian Developments S.A.”
According to the Environmental Impact Study submitted for the project’s environmental permitting, the investment includes a central reception building, dining and leisure areas, a spa, standalone accommodation buildings, underground spaces, pergolas, water tanks, and swimming pools. The total floor area amounts to approximately 8,702 square meters, with a built-up area of approximately 4,647 square meters.
As noted, the total construction cost will be covered by equity.
It should be noted that “Asteria Hotel and Tourism S.A.” has been merged through absorption by “Apollonion Hotel Enterprises S.A.”
It is recalled that G. Strintzis, who is closely associated with Greek coastal shipping, has another tourism project in the works in Kefalonia, valued at 8.75 million euros. This project is currently in the permitting process. In fact, through “Apollonion Hotel Enterprises S.A.,” he owns another hotel in Kefalonia, the Apollonion Asterias Resort & Spa.
The investment by the municipality of Skydra
The Municipality of Skydra is betting on boosting wellness tourism and has launched the development of a modern thermal tourism facility, utilizing the Loutrochori spring, with the aim of providing balneotherapy services, wellness, and support to individuals who use the region’s natural thermal resources.
The total area of the site where this thermal therapy facility will be built is approximately 8.8 acres, while the facility itself will be housed in a single-story building with a total floor area of approximately 368.75 square meters. The facility will include a reception area, waiting rooms, men’s and women’s changing rooms, a medical office, offices, restrooms, as well as the main balneotherapy area.
The facility, whose cost is estimated at approximately 907,000 euros, is expected to accommodate about 320 bathers per day, with the capacity to serve approximately 40 people per hour of operation. In addition, the facility will offer hydrotherapy, physical therapy, massage, physiotherapy services, exercise programs, medical support, and dining services with an emphasis on the use of local products.
According to the relevant Environmental Impact Study submitted for the necessary permits, the natural thermal spring of Loutrochori has been recognized as a thermal spring and is characterized by specific physicochemical properties, with a temperature of approximately 21°C and a flow rate of approximately 18 cubic meters per hour.
It should be noted that, by its decision, the Decentralized Administration of Macedonia and Thrace deemed the EIA dossier incomplete, with the project developer being asked to provide additional information in order to proceed with the environmental licensing of the project.